Bionano Genomics Inc
NASDAQ:BNGO
Bionano Genomics Inc
Bionano Genomics, Inc. is a life sciences instrumentation company, which focuses on the genome analysis space. The company is headquartered in San Diego, California and currently employs 299 full-time employees. The company went IPO on 2018-08-01. The firm offers diagnostic services to physicians specializing in medical management for individuals with genetic conditions, such as pediatric neurodevelopmental disorders, including autism spectrum disorders. The company markets and sell the Saphyr system, which delivers OGM data to enable ultra-sensitive and ultra-specific detection of all classes of structural variation. Its Lineagen business provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, it offers a platform-agnostic software solution, which integrates sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view.
Bionano Genomics, Inc. is a life sciences instrumentation company, which focuses on the genome analysis space. The company is headquartered in San Diego, California and currently employs 299 full-time employees. The company went IPO on 2018-08-01. The firm offers diagnostic services to physicians specializing in medical management for individuals with genetic conditions, such as pediatric neurodevelopmental disorders, including autism spectrum disorders. The company markets and sell the Saphyr system, which delivers OGM data to enable ultra-sensitive and ultra-specific detection of all classes of structural variation. Its Lineagen business provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, it offers a platform-agnostic software solution, which integrates sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view.
Revenue Growth: Third quarter revenue reached $7.4 million, up 21% year-over-year, with core revenue up 12% after adjusting for discontinued services.
Record Flow Cell Sales: Sold an all-time record 8,390 flow cells, a 7% increase from last year, driven by higher utilization among routine users.
Gross Margin Expansion: Non-GAAP gross margin was 46%, significantly improved from 26% a year ago, reflecting better manufacturing costs and product mix.
Cost Discipline: Non-GAAP operating expenses were $9.7 million, a 40% reduction year-over-year.
Guidance Reiterated: Full year 2025 revenue guidance of $26 million to $30 million is maintained, with Q4 revenue expected between $7.5 million and $7.9 million. System installations are expected to surpass prior guidance.
Balance Sheet Strength: Ended the quarter with $31.8 million in cash and securities, bolstered by a $10 million public offering.
